Category: Wall Street

Divided Over Forcing Banks to Increase Mortgages

Americans are divided over whether the Obama administration should issue an executive order forcing banks to make more home mortgages and loans to business to help the U.S. economy recover from the worst hit since the Great Depression, according to a new Housing Predictor poll. The online survey was taken over the last month, and… Continue reading Divided Over Forcing Banks to Increase Mortgages

States Investigate Banks Criminal Acts in Foreclosure Crisis

By Mike Colpitts New York’s Attorney General was one of the first to pull out of the 50 state negotiations with big Wall Street banks in the robo-signing scandal, and now the same state’s Attorney General is investigating criminal acts by the same firms tied to the foreclosure crisis. “This was a man made crisis,”… Continue reading States Investigate Banks Criminal Acts in Foreclosure Crisis

U.S. Divided on Occupy Wall Street Protests

By Mike Colpitts The U.S. is divided about any good that will come from protests associated with the group Occupy Wall Street that started demonstrations in New York City and have spread across the world, according to a new opinion poll. The survey was taken over the past two weeks, during which protests moved from… Continue reading U.S. Divided on Occupy Wall Street Protests

U.S. Expects Riots to Develop From Economic Downturn

A large majority of those surveyed expect the economic downturn to result in riots in the U.S. as factions so desperate for better times vent their anger in violence, according to a Housing Predictor poll that was just completed. High unemployment has sent an estimated 45-million Americans to the job line, and millions of others… Continue reading U.S. Expects Riots to Develop From Economic Downturn

Occupy Wall Street Protests Catch On

By Mike Colpitts In the midst of the toughest economy since at least the Great Depression, most Americans are just trying to hang on – pay their bills, the mortgage, hold on to their jobs or find new employment. The Occupy Wall Street movement that started outside of the New York Stock Exchange on Wall… Continue reading Occupy Wall Street Protests Catch On

Mortgage Rates Drop on Federal Reserve Announcement

By Mike Colpitts Just minutes after the Federal Reserve announced its new monetary policy, dubbed “Operation Twist” mortgage rates dropped. Rates were being set lower and lower by banks and mortgage lenders throughout the afternoon and evening hours Wednesday. For homeowners looking for a refinance and perspective home buyers the policy move came as tremendous… Continue reading Mortgage Rates Drop on Federal Reserve Announcement

Jobs Proposal Boosts Home Prices

By Mike Colpitts The Obama administration’s proposal of jobs and spending initiatives would supply much needed aid to the real estate industry, and give the housing market a shot in the arm towards recovery eventually boosting home prices, an analysis of the program has found. Consumers and businesses are concerned about the U.S. economy, which… Continue reading Jobs Proposal Boosts Home Prices

Mortgage Rates Dive to New Low

By Mike Colpitts Troubled by European debt worries and record low bond yields, mortgage rates dropped to new all-time record lows again this week hitting an average 4.09% on the fixed 30-year mortgage, according to Freddie Mac. But many homeowners applying for refinances, and home buyers obtaining mortgages for purchases obtained even lower rates. Mortgage… Continue reading Mortgage Rates Dive to New Low

Few Bankers Go to Prison in Financial Crisis

By Mike Colpitts Besieged by Wall Street and banking irregularities more than three years after the financial crisis exploded on Wall Street, only a handful of banking industry executives have been sentenced to prison in the fallout of the U.S. mortgage crisis that transformed the U.S. economy. A New Jersey based mortgage company president was… Continue reading Few Bankers Go to Prison in Financial Crisis